Gas cartel seeks to profiteer from power

Thursday, 22 August 2019

Via the AFR:

Trevor St Baker’s ERM Power has received a takeover bid from an offshore acquirer, understood to be London-listed energy giant Royal Dutch Shell.

It is understood Shell has offered $2.465 a share, which represents a 43 per cent premium to the last close and values ERM at about $620 million. .

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.